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Widely touted as the “future of money,” the top cryptocurrencies have the potential to generate millions for astute investors. The asset class, once considered an obscure investment, quickly gained the trust of many. In just a few years it has become a major player in the financial landscape. By decentralizing, cryptos are disrupting traditional payment systems and creating a paradigm shift in the way we handle money.
With a ten-year success story, cryptocurrencies are still in their infancy. However, this hasn’t stopped companies from breaking barriers across industries. For investors, this innovative approach to solving real-world problems using technology and community has created new ways to make money.
Crypto heavyweights like Bitcoin (BTC USD) And ether (ETH-USD) have the highest market capitalizations. However, recent investor optimism has been focused on alternative crypto assets. Given the number of altcoins, investing in cryptos with high utility is key to making profits.
Chain link (LINK)
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Going back to my point about cryptocurrencies using innovation to solve real-world problems: that’s exactly it chain link Laboratories (LINK USD) is doing right now. The company prides itself on bridging crypto and the real world in a largely independent industry.
Blockchain networks – the backbone of cryptocurrencies – are self-sufficient and rarely interact with external sources. The lack of external data poses a problem for payment apps that require exchange rates to execute transactions. Most cannot retrieve the information natively. This is where Chainlink comes into play. The company solves this communication problem with a decentralized network called Oracles. This software takes data from off-chain sources (external) and sends it to apps via smart contracts on the blockchain.
This connection has made Chainlink an important resource for decentralized finance (DeFi) applications that rely on the technology for up-to-date information. The company has over $1.1 billion secured in crypto assets while forging strategic partnerships to advance its mission.
Like any cryptocurrency, Chainlink is a high-risk, high-reward game, but its utility makes it every crypto millionaire’s dream.
Tron (TRX)
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Another company doing great things in blockchain is Tron (TRX USD). Founded in 2017, the company offers a comprehensive network for decentralized apps (dApps) that run independently on its network.
Tron has three distinct features that define it a competitive advantage: high transaction throughput, low costs and advanced governance. These features have strengthened the company’s position on the decentralized web as they remain crucial to the efficient operation of dApps. Tron has quickly become the platform of choice for users seeking fast and scalable solutions.
Through the diverse selection of dApps on its platform, including apps from the areas of finance, social media and gaming, the company appeals to a broad user base. Tron’s acquisition of file-sharing company BitTorrent helped boost transaction volumes on its blockchain network.
These innovations helped the company build a user base of nearly two million daily active users and reach a market capitalization of $10 billion. As Tron continues to improve its ecosystem and expand its DeFi offerings, its growth potential remains limitless. For investors willing to bet on the future of blockchain, Tron is one of the most sought-after cryptocurrencies to purchase.
Uniswap (UNI)
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The theme of cryptocurrencies has always been to give users more control Uniswap (UNI USD) brings this feature to crypto exchanges. Mainstream crypto exchanges like Binance and Coinbase are centralized and often controlled by one entity that manages users’ funds. This raises liquidity concerns as low order book levels make it difficult to initiate buy and sell transactions.
Uniswap combats this problem with a fully decentralized exchange (DEX). Using an open-source network and an automated liquidity protocol, the Ethereum-powered exchange allows users to trade directly from their wallets. This means traders have complete control over their funds and eliminates the risk of assets being seized or frozen by a central authority. The exchange also uses a peer-to-peer trading model that cuts out the middleman and reduces transaction fees.
Uniswap controlled $6 billion in crypto assets and recently launched a V3 protocol with a tiered fee structure. The company has been instrumental in giving Ethereum a first-mover advantage in the DEX space. It is poised to serve as a hub for such businesses in the future. The enormous potential that DEXs offer makes Uniswap one of the top cryptocurrencies to buy for future millions.
At the time of publication, Divya Premkumar did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.